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How Is The Interswitch Webpay Doing ?

(1)Can someone tell me if it is a good idea to get the interswitch webpay API for a new web project.

(2)Are there any stats on the number of nigerians using webpay to purchase goods or services over the internet?

I am asking these questions because I emailed interswitch about the information, I never got any reply from them.

Someone told me that it will cost about 150k to get their API, so I wondering whether it is just a waste of money or time since I dont have a clue about the product usage.

Cheers ppl

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16 answers

First of all the fee for Interswitch is just outright expensive you have to consider if after getting it whether it safe and also weigh the amount of transactions u expect to get it's a risk,i prefer they fill a form online and make direct payments via the bank or anything to an account.Seun is right most banks ave disabled their ATM card i got peeps in the Customer Service Section.but not sure why they did that,

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I've always known that it's a waste of money to use Interswith for accepting payment on one's website cos i hardly hear of people buying stuff with interswitch plus there price is exorbitant. How can someone pay 150k. Nawaoo.

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Indeed I think Seun is right, My ATM does not work online for any purchases again. In-fact the banks have made the ATM usage entirely confusing. My local GTbank ATM cannot buy or pay for  anything online again. I now have a local (Naira) Zenith bank (VISA) ATM that doesn't buy anything online and an Intl ($) Gtbank Visa, I use for making intl payments.

So I believe the local cards are no longer working for online purchases.

Then there's the verve and so many other confusing cards. The industry needs to deregulate and do more marketing/product awareness.

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If you want to know how many Nigerians use ATM online; ask Aero Contractors. Almost every Nigerian pays for flights online now

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i concur with lojik, An average Nigerian is scared of using his/her ATM to make purchases online.

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that is a very good observation

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While i think interswitch is the only worthwhile option, The question is "How many nigerians buy with ATM online". My believe is that most people would prefer direct bank payment because of the high scam rate.

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It's not false information. I was told by someone who runs a phone voucher store.

See http://www.davidajao.com/blog/2008/08/15/banks-that-disabled-interswitch-card/

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A post here comparing Nigeria's online payment services, contributors are welcome. http://.com/2009/01/nigerian-online-payment-solutions-which.html

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@ Seun,

Could you stop spreading false information.

@Poster, Interswitch webpay is very effective, the only snag is the delay the bank takes reporting the transaction into your bank account.

If you go to Interswitch direct, expect to cough up 150k for API. If you go through GTB, you only pay 75k for the API.

Findings are that most Nigerians still prefer the brick and mortar bank payment than online payment.

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I'm using netnaira. They've been quite effective. You can check them out: http://netnaira.com

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1) Tis Nigeria where price-fixing is the norm

2) No competition

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That is still a lot of money and for how many years do they want to keep charging that same amount? I guess this is because they know that for other Nigerian programmers to come together to work up a new project to counter theirs will take more time. It simply calls for collab by programmers to think and work out something.

How about fastecash http://www.fastecash.com

They are making waves gradually. See it and know if it serves your purpose.

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I have to quickly say that Interswitch webpay is still the best solution out there.

If they can find an effective way to deal with these scammers, they will be perfect.

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That is really serious - and one of my clients was about to start processing interswitch today - i beta warn the guy

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Food for thought: A number of banks, including GTBank, have disabled web payments using their ATM cards.

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